š
Original date posted:2021-05-18
š Original message:Good morning Zac,
> VDFs might enable more constant block times, for instance by having a two-step PoW:
>
> 1. Use a VDF that takes say 9 minutes to resolve (VDF being subject to difficulty adjustments similar to the as-is). As per the property of VDFs, miners are able show proof of work.
>
> 2. Use current PoW mechanism with lower difficulty so finding a block takes 1 minute on average, again subject to as-is difficulty adjustments.
>
> As a result, variation in block times will be greatly reduced.
As I understand it, another weakness of VDFs is that they are not inherently progress-free (their sequential nature prevents that; they are inherently progress-requiring).
Thus, a miner which focuses on improving the amount of energy that it can pump into the VDF circuitry (by overclocking and freezing the circuitry), could potentially get into a winner-takes-all situation, possibly leading to even *worse* competition and even *more* energy consumption.
After all, if you can start mining 0.1s faster than the competition, that is a 0.1s advantage where *only you* can mine *in the entire world*.
Regards,
ZmnSCPxj
ZmnSCPxj [ARCHIVE] /
npub1g5ā¦3ms3l
2023-06-07 22:52:46
in reply to nevent1qā¦7fjz
Author Public Key
npub1g5zswf6y48f7fy90jf3tlcuwdmjn8znhzaa4vkmtxaeskca8hpss23ms3lPublished at
2023-06-07 22:52:46Event JSON
{
"id": "8fb48845de4cb8a688f10419112412ea55b310b3ea4d561fe8995662a2dbffce",
"pubkey": "4505072744a9d3e490af9262bfe38e6ee5338a77177b565b6b37730b63a7b861",
"created_at": 1686178366,
"kind": 1,
"tags": [
[
"e",
"3924236b4a6804e5062f43250316165d7329dbe370a76aa07c1a86d1bcab9697",
"",
"root"
],
[
"e",
"8da58378d64bb9f0237c139f7444c2c5a2c67579df85eb8ae0a0d0feda9c608c",
"",
"reply"
],
[
"p",
"4137bb41a55a1c2c51d18f37f33cf0c29082422c56398d859ff1085f29eebd4b"
]
],
"content": "š
Original date posted:2021-05-18\nš Original message:Good morning Zac,\n\n\u003e VDFs might enable more constant block times, for instance by having a two-step PoW:\n\u003e\n\u003e 1. Use a VDF that takes say 9 minutes to resolve (VDF being subject to difficulty adjustments similar to the as-is). As per the property of VDFs, miners are able show proof of work.\n\u003e\n\u003e 2. Use current PoW mechanism with lower difficulty so finding a block takes 1 minute on average, again subject to as-is difficulty adjustments.\n\u003e\n\u003e As a result, variation in block times will be greatly reduced.\n\nAs I understand it, another weakness of VDFs is that they are not inherently progress-free (their sequential nature prevents that; they are inherently progress-requiring).\n\nThus, a miner which focuses on improving the amount of energy that it can pump into the VDF circuitry (by overclocking and freezing the circuitry), could potentially get into a winner-takes-all situation, possibly leading to even *worse* competition and even *more* energy consumption.\nAfter all, if you can start mining 0.1s faster than the competition, that is a 0.1s advantage where *only you* can mine *in the entire world*.\n\nRegards,\nZmnSCPxj",
"sig": "80a3d49533aac32e5b843602da57402e8df7e273fda3942435d5ce25977946cb7cbf84e560169b3a7af2cd4f72d50ef826afa1e737c94af0e11d4f51f344814b"
}